Dash Instamine is a non-issue.

[Technologov]

Partial Instamine is a non-issue.

1. Bill Gates pre-mined Microsoft stocks.
2. Mark Zuckerberg pre-mined Facebook stocks.
3. Vitalik pre-mined Ethereum.
4. Crypto-coins are both digital gold and a stock.

I believe that creators need to have financial incentives to make their projects a success.

EDIT: Here a guy that wrote an article that Bitcoin is not a digital gold, but more like a company stock. Good read !
https://www.reddit.com/r/btc/comments/65ks6p/critical_misunderstanding_bitcoindigital_gold/

EDIT2: Even better would be, for the investors, is if creator pre-mines his coins, but uses a 5-year TIME LOCK transaction, so he can't dump it on the market. This will provide a long-term motivation to improve his creation. Pump-and-Dump out; Innovation in !

-Technologov

[DrkLvr_]

Partial Instamine is a non-issue.

1. Bill Gates pre-mined Microsoft stocks.
2. Mark Zuckerberg pre-mined Facebook stocks.
3. Vitalik pre-mined Ethereum.
4. Crypto-coins are both digital gold and a stock.

I believe that creators need to have financial incentives to make their projects a success.

-Technologov

Stop trying to defend a scam instamine 

[The Sceptical Chymist]

I don't see it as an issue either, but good luck trying to get your point across to the anti-Dash crowd, and that's a big one around here.  I've seen so many threads already on just this point alone, and they always turn into a flame war.  The stain of Dash's birth is always going to be with it, and that viewpoint is well-entrenched on this forum.  Me, I find it a useful coin and I don't care if the creators are shitheads.  I mean it's main selling point at one time was that it's useful for dark markets and such...so what do you expect?

[DrkLvr_]

You don't see a problem with scam instamining 2+ million coins in the first 8 hours of launch, out of the total 7 million coins currently in existence? Then claiming "no premine" in your ann thread?  Then lowering the coin emission 100x from 500 per block to 5 per block after you finished instamining? Then going through not 1 but 2 rebrands to try and wash the scam instamine stench off itself?

Well you must be a fucking idiot then.

[Technologov]

>You don't see a problem with scam instamining 2+ million coins

I believe that coin creators (developers) don't need to work for free. They need to be paid.
Pre-mine or insta-mine is one of the very few ways to make some money for coin developers.

Crypto-coin development is one of the 5 hardest dev jobs on Earth. Those include: operating-systems (Windows, Linux), virtualization (VMware, VirtualBox), 3D games, Artificial Intelligence (A.I) and crypto-coins.
Very few developers can even understand it, let alone hack it's code and make significant improvements. Evan Duffield (of Dash) and Vitalik Buterin (of Ethereum) are one of the few, who can.

And if we don't pay (the investors), then BlockStream will attack our coin !

[The Sceptical Chymist]

Well you must be a fucking idiot then.

I can live with that.  OP, told you this sort of thing turns into personal attacks by bigoted, intolerant ass faces who cannot accept that people have differing opinions.  But that's the way it is.  Dash is a useful coin, and I agree that the devs need to be paid.  Regardless of how it came into existence, it's a good coin now.  There's going to be this argument as long as Dash exists, and I'm fine wearing the label of "fucking retard".  I've dished that one out myself plenty-o-times.

[smooth]

I believe that coin creators (developers) don't need to work for free. They need to be paid.

Okay, then come out clearly and ask to be paid. Given clarity and transparency, people can rationally debate whether the structure that is being proposed is best, perhaps some adjustments can be made, and then people can decide whether or not to buy in. That's what Ethereum did. There was a process of evolving the original proposal, eventually precise documents were written and posted laying out how many free coins the devs were going to get, where the BTC raised by selling most of the premine was going to go, etc. and then those who wanted to buy in did, those didn't, didn't.

If you run at as fraudulent scheme and make a bunch of deceptive statements about launch time, withholding information, later claiming it was a hobby or a joke when evidence clearly suggests otherwise, and generally running the whole thing in a manipulative, underhanded, and dishonest manner, then expect to be called out for it. Which is exactly what most of the instamine criticisms come down to.

[qwizzie]

The instamine is indeed a non-issue, if only for the fact that it lost its relevance over time and its community
simply moved on a long time ago.

It is always interesting to see what kind of people still feel pressured to post replies in topics
like these. Specially when they are preaching against dishonesty and fraudulent schemes,
while they were themself involved in that exact behaviour. I call that hypocrisy at its finest.

So, how are things with Steemit .. smooth ? Maybe you can tell us a bit more about your ninja-mining
period with Steemit, so we can all learn from it.

We are all hungry for knowledge....

[Aureliusy]

I agree it is a Feature. Now move along crypto citizen, there is nothing to see.

[fintekneeks]

This is our take on Dash's instamine issue and we even feature the opposing side in the post, so people are free to walk away with whatever view they like.  We do point out our focus on Dash - ultimately, if Dash doesn't address those issues, those will be the issues that matter.

[3x2]

The difference is one did it openly and other is still trying to hide it, he tried to scam. Simple!

[spartak_t]

I believe that creators need to have financial incentives to make their projects a success.

But of course. Financial "incentives" currently worth ~$120+ million (and over $200 million at some point).

[Ayers]

Partial Instamine is a non-issue.

1. Bill Gates pre-mined Microsoft stocks.
2. Mark Zuckerberg pre-mined Facebook stocks.
3. Vitalik pre-mined Ethereum.
4. Crypto-coins are both digital gold and a stock.

I believe that creators need to have financial incentives to make their projects a success.

developers need to be incentivated to work right, but not to scam people, they could add a fee to the miners reward that they take, like some coins did in the past, this is a good solution for them to have the funds to keep develop their oins, meanwhile investors are not scammed by huge premine, and where is your source that bill gates premine microsoft? what the hell premined stocks means here lol?

[cryptonia]

Partial Instamine is a non-issue.

1. Bill Gates pre-mined Microsoft stocks.
2. Mark Zuckerberg pre-mined Facebook stocks.
3. Vitalik pre-mined Ethereum.
4. Crypto-coins are both digital gold and a stock.

But none of them lied and deceived people about it

[mining1]

I don't see it as an issue either, but good luck trying to get your point across to the anti-Dash crowd, and that's a big one around here.  I've seen so many threads already on just this point alone, and they always turn into a flame war.  The stain of Dash's birth is always going to be with it, and that viewpoint is well-entrenched on this forum.  Me, I find it a useful coin and I don't care if the creators are shitheads.  I mean it's main selling point at one time was that it's useful for dark markets and such...so what do you expect?

Not the "premine" is an issue, but the issue is how it was handled. It seems like their intetion was either for it to happen or simply the ideea came after it happened, just look at it:

1. "bug" happened, main devs were most likely the only miners at first so they pre/mined every single coin at start.
2. They promised to restart it. Didn't happen.
3. They used the premine to vote for themselves to keep the coins - About this point i am not sure, someone should correct me if i am wrong. I've read that there was some sort of "vote" and they could use the premine to vote for themselves
4. Rebranded the project to lose the track.
5. Move and develop the project into a direction that would constrain the supply to artificially increase the price ( masternodes ). And don't come with "but masternodes can sell at anytime" crap because, because the devs own / owned most coins. Plus, with such huge ROI, 10-15%, the incentive is to stake.
6. Centralization, because of the premine there weren't too many coins left to mine, contrary to the promises.

Also watch how Evan chocked when he was asked about the premine, min 47 https://www.youtube.com/watch?v=0EG2km7GAmM

So yes, dash will never get rid of it's scam shit stain.

[badenglishtea]

PIVX.

PIVX is like Dash without the instamine (also better community, dev, marketing, innovations, governance).

Your right, the instamine is a non-issue for people who hold Dash (very few). For everyone else, and for anyone new looking to invest, PIVX is far superior.

I dumped my Dash at 0.1 BTC on some dumb trader. Bought PIVX masternodes. Never looking back.

At least we get to all watch the slow, centralized death of Dash over the next year together.

[mining1]

And why would pivx be better ? What makes their dev team better ? The fact that it is a clone proves the team is average tops and the project is vaporware.

[European Central Bank]

the coin is several years old now. i think it's safe to say that the market has spoken and it still wants it no matter what shit happened in the background.

[Ayers]

And why would pivx be better ? What makes their dev team better ? The fact that it is a clone proves the team is average tops and the project is vaporware.

because pivx was not instamined like dash, but dash was not actually instamined, darkcoin was instamined up to 5 million from the dev, and then they did the swap with the so called dash, but one is a pos and the other cna still be mined, even if dash is bad because instamined, i still like it more because you can mine

[qwizzie]

And why would pivx be better ? What makes their dev team better ? The fact that it is a clone proves the team is average tops and the project is vaporware.

because pivx was not instamined like dash, but dash was not actually instamined, darkcoin was instamined up to 5 million from the dev, and then they did the swap with the so called dash, but one is a pos and the other cna still be mined, even if dash is bad because instamined, i still like it more because you can mine

Just to be clear : there were only name changes involved.

Xcoin : conflict with another coin so a new name was needed
Darkcoin : needed a rebranding for mainstream adaption
Dash : final branding name

These name changes did not involve a change from proof of work (POW). Dash just put a second tier on top of the miners,
called it proof of service and gave the masternodes of that second tier rewards for providing services to the network.
(PrivateSend, InstantSend, Voting). Masternodes and miners each earn 45% of the blockrewards and 10% of the blockrewards
goes to the decentralized budget system.

There also exist a Dashcoin but that is a totally seperate cryptocurrency, not to be confused with Dash.

FYI